Renters and Marketability

For Rent SignI recently tried to schedule some appointments for one of my Buyers to see a few units at the Cosmopolitan. On a Saturday… one of the only times many Buyers have time to view property.

Out of the 3 units that we tried to get into, all of them had renters in it. One claiming “it just wasn't a good weekend” to have the condo shown, the other only allows an opening of 8 hours during the week for showings, and the third only allows showings with offer in hand. Yeah. Try explaining THAT to your Buyer.

Thus, this post. We've all heard time and time again that having a renter in the unit lowers your listing's marketability. Most renters, and I can understand why, do not want to have to bother with scheduling showings, seeing as how it doesn't benefit them at all. It is, in fact, best for the renter to not cooperate, as it serves to prolong them having to move.

I am not trying to generalize, I know that not all renters see things this way and that many are very cooperative in maintaining flexible schedules to allow showings.

But homeowner's take note, vacant is BEST and you want to keep your field of potential Buyers as wide as possible. Don't let your renter eliminate potential offers! Your time on market is likely to be much less when listed as a vacant listing.